Hi, I'm looking for some advice regarding gains from an offshore non-reporting fund. I know that non-reporting fund status means that any gains will be treated as income but my question is whether there is any anti-avoidance legislation around 'bed and breakfasting' offshore income gains. If a gain is treated as capital then there must be 30 days between realising a gain and reinvesting to avoid a riskless utilisation of capital gains allowance. However, does any such 30-day rule exist if realising an income gain or would it be possible to realise the 'income' and reinvest immediately, effectively utilising the nil rate / lower rate band of income tax for a non-earner. Not sure if this question best sits in the income or capital forum.
Many thanks
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